Mumbai, Dec 16: The stage is set for the 6th summit among doctors, drug makers and regulators here later this month that will not only discuss issues concerning the $17-billion Indian pharma industry but also honour top doctors and firms in 40 categories.

Some other issues up for discussion include foreign investment policy, clinical trial approvals, compulsive licensing, slowdown in the launch of new drugs, regulation and the lowering of 348 drugs this year under the price control regime.

Addressing these issues is key for the Indian pharmaceuticals industry, already logging a turnover of $17 billion anually and ranking among the top five in the world, to reach its potential of $35.9 billion by 2016," said Pharmaleaders chairman Satya Brahma.

"Widespread reports of unholy nexus between doctors and pharma companies in cementing commercial deals are distressing. Give and take seem to be the order of the day, which is eroding the ethics of the medical profession," Brahma, also the editor-in-chief, said.

"It is widely believed pharma companies and doctors are engaged in dubious deals, since pharma firms feel doctors have multiple choices and will endorse a product only if they are offered something compelling," he added.

"This is also the focal point at the summit as we will attempt to bring drug companies and doctors face-to-face," he said, adding: It will also seek to narrow the gap that has now emerged in terms of pharma firms updating doctors on clinical and medical matters.

Traditionally, the standard practice followed by pharma firms is to update the doctors using communications material such as visual ads, product information, new research and launches. Doctors looked to medical representatives to update their knowledge.

"Pharma companies and doctors now need to engage more for a meaningful dialogue in the field of scientific and medical communications, keeping the primary objective in mind: Ethics in medical profession is key to sustainable growth and innovation," said Brahma.

The summit will also see a galaxy of professionals from the two fields speak on a wide range of subjects under the theme: "Incredible Pharmaleaders, Billion Dreams - Pushing India's Growth".